Payment Forum, SUMMIT DATA & Stratus Japan

In my last column, I discussed whether the move toward a consumption tax hike and the Tokyo Olympics would be a trigger to improve the cashless ratio. With the implementation of the consumption tax hike approaching, at last, this time I would like to focus on recent developments other than the consumption tax hike that will affect the future of payments.

In my last column, I talked about who could play a leading role in the near future if a payment revolution were to occur in Japan in which the cashless ratio would increase sharply. At the time of writing (3/12), there are almost 200 days left until the consumption tax hike from October, and almost 500 days until the Tokyo Olympics. It is hoped that one event will trigger a significant increase in the cashless ratio.

As a continuation from my previous column, the field of payments, as well as many other industrial fields, is experiencing a wave of internationalization and technological innovation, and many experts seem to think that a major change that can be called a payment revolution is taking place.

Centered on members of both companies of Kaifeng Susumu Science & Technology Co., Ltd., who are familiar with the trends in the payment field in Japan and China, we are studying what is happening in recent payment trends and what will happen in the future.